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When was the last time you updated your auto insurance? If you’re like many drivers on the road today, it’s been a while. The truth is that we all need to be thinking about our car insurance and making sure that we have adequate coverage. Not only do we want to avoid accidents and injuries on the road, but we also want to make sure that if one does happen, we are covered financially. When updating your auto insurance policy, there are some things to consider that can help ensure you find an option for yourself with peace of mind.
Consider These When Updating Your Auto Insurance
The first place to start is to compare the best roadside assistance offered by all major insurance companies. It’s worth noting that many insurance companies include roadside assistance as part of their auto insurance policy, but not all do. It never hurts to be aware of the specific details and requirements your company or various providers offer in this area.
You should also make sure you understand what type of roadside services are offered by each provider. For example, would it be beneficial to you if one company could provide a tow truck, fuel delivery, and locksmith services? Some companies offer much more than others.
Research And Compare Rates From Different Providers
Another thing to consider is that you should take the time to research and compare rates from different auto insurance providers. With so many options available, it can be hard to choose. There are significant differences in price from one company or another. The key here is not only finding the cheapest option offered by your current insurance carrier but also comparing the rates offered by new insurance providers.
For example, if you consider switching your car insurance policy to another provider, ask them about any current offers they may have available on their website or through email marketing campaigns. For instance, many companies will offer several discounts that can be combined for even more savings- some of which may not even be available through your current provider.
Consider Bundling Home And Auto Insurance With One Company
Another thing to consider is if and when it makes sense to bundle your home and auto insurance with one company. Many companies offer special discounts on their automobile insurance policies when customers also buy their homeowner’s policy from them. For example, getting both types of coverage through the same provider can mean a discount of up to 20% off your total insurance bill.
Switching Your Deductible To Lower Your Premiums
Switching your deductible is another way to lower your premiums without sacrificing too much in terms of coverage. A deductible is an amount that you have to pay out-of-pocket for a claim before the insurance begins covering costs associated with it.
In some cases, paying more each month can save you money if you can reduce or eliminate your deductible from applying to the claim. For example, suppose you currently have a $200 deductible and change it to $500. In that case, your premiums will go down because claims that exceed this amount would be paid by you instead of the insurance company (and vice versa).
Add An Anti-Theft Device Or Alarm System
Adding an anti-theft device or alarm system to your car is another way that you can lower the rates on your insurance policy. For example, suppose you have a vehicle with standard locks and no other security features added to it. In that case, many companies will charge more for coverage than they would for cars featuring these safety devices. When shopping around for a new policy, be sure to inquire about this option as well.
It is worth noting that there are other ways you can lower your rates- these simply represent some of the most common areas for consideration when doing so. In any case, shopping around and comparing quotes from different companies should always remain at the forefront of your priority list if lowering your insurance costs is something you are interested in doing.